Finance / South Africa
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South Africa's Adcock Ingram To Be Listed
July 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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South African food, healthcare and pharmaceutical company Tiger Brands has announced that its healthcare interest, Adcock Ingram, will be separately listed in the Johannesburg Stock Exchange (JSE) on August 25 with a net debt of around ZAR250mn (US$33mn). The listing is subject to approval by Tiger Brands' shareholders when they meet on August 14. However, CFW expects there to be few dissenters, since the sale fits Tiger Brands' strategy of focusing on its core FMCG business. This strategy included the sale of its dairy business, DairyBelle, in April 2007.